Goal Setting Basics!
New year? New house? Let's make it happen!
The housing market in South Eastern Wisconsin is starting up quickly this year! Why not take advantage of it?
Take advantage of low interest rates
Are you wishing for a big living room for next year’s holidays? What about a kitchen that can actually handle the magnitude of cookies you bake? That dream home may be closer than your imagine. If you are a first time home buyer or already living the homeowner life, you can take advantage of a lower rate.
Think about this —
A 6% rate on a 250,000 loan means a principal and interest payment of $1500. While a 4% rate for a 250,000 home lowers your payment to $1200!
Rates are gradually climbing, & waiting around could cost you hundreds in interest every month. Now is the time to get yourself approved for a mortgage and lock in a low rate.
Let's start planning your timeline
Take advantage of your equity
If you do sell, what does the next step look like?
Option 1 — Use it as a downpayment for your next home.
A larger downpayment means lower monthly payments, better loan programs, and more lending options. Plus, selling wisely, with a realtor and top notch marketing, could mean the difference between affording your dream place or missing out by a couple thousand dollars.
Option 2 — Use it to remodel your next home!
Like a location but none of the houses really work for you? Put your stamp on your new home and make it work! My husband and I are doing just that this winter. We sold our home in November and have taken on a full kitchen renovation at our new place. Using equity to make equity makes you one smart cookie ;).
Option 3 — Cash out and invest
If you are thinking about downsizing, this might be your next move. Although investments are not in my wheelhouse, I can point you to a local financial planner who can help you chart a new financial course.
P.S. — Don’t forget to save some of it for the furniture!
Furnishings, artwork, & decor is really what makes a good house a beautiful home. Set aside some of that closing check and make your home a haven.